Surge Energy Inc (TSE:SGY) Director Purchases C$31,936.00 in Stock

Surge Energy Inc (TSE:SGY) Director Robert Allen Leach acquired 20,000 shares of Surge Energy stock in a transaction on Wednesday, April 17th. The stock was purchased at an average price of C$1.60 per share, with a total value of C$31,936.00. Following the transaction, the director now directly owns 742,352 shares in the company, valued at approximately C$1,185,387.67.

Shares of SGY opened at C$1.39 on Friday. The firm has a market cap of $411.35 million and a P/E ratio of -4.71. Surge Energy Inc has a 12 month low of C$1.22 and a 12 month high of C$2.76. The company has a quick ratio of 0.69, a current ratio of 0.79 and a debt-to-equity ratio of 56.97.

Surge Energy (TSE:SGY) last announced its earnings results on Tuesday, March 12th. The company reported C($0.04) earnings per share for the quarter. The company had revenue of C$58.13 million during the quarter. On average, equities analysts forecast that Surge Energy Inc will post 0.0300000008633094 earnings per share for the current fiscal year.

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be paid a $0.0083 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.10 annualized dividend and a dividend yield of 7.17%. Surge Energy’s dividend payout ratio (DPR) is currently -33.90%.

A number of brokerages have weighed in on SGY. Raymond James reiterated an “outperform” rating and set a C$2.50 price target on shares of Surge Energy in a report on Tuesday, January 15th. National Bank Financial lowered their price target on shares of Surge Energy from C$2.50 to C$2.25 and set an “outperform” rating for the company in a research note on Monday, January 14th. Canaccord Genuity dropped their target price on shares of Surge Energy from C$2.75 to C$2.25 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Cormark lowered their target price on shares of Surge Energy from C$4.00 to C$3.25 in a report on Tuesday, January 15th. Finally, Laurentian dropped their target price on shares of Surge Energy from C$2.25 to C$2.00 in a report on Monday, January 14th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Surge Energy presently has an average rating of “Buy” and a consensus price target of C$2.51.

COPYRIGHT VIOLATION WARNING: This news story was originally posted by Baseball Daily News and is the sole property of of Baseball Daily News. If you are reading this news story on another domain, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The original version of this news story can be read at https://www.baseballdailydigest.com/news/2019/05/10/insider-buying-surge-energy-inc-sgy-director-buys-20000-shares-of-stock.html.

About Surge Energy

Surge Energy Inc engages in the exploration, development, and production of oil and gas in western Canada. It holds interest in the Greater Sawn Lake assets located in Northern Alberta; Nipisi property located to the north of the town of Slave Lake in northwestern Alberta; and Valhalla/Wembley property located to the northwest of Grand Prairie in northwestern Alberta.

Featured Article: Discover Your Risk Tolerance

Insider Buying and Selling by Quarter for Surge Energy (TSE:SGY)

Receive News & Ratings for Surge Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Surge Energy and related companies with MarketBeat.com's FREE daily email newsletter.